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News: Piyush Gupta , CFO of Arvind Fashions, has resigned from the post due to personal and family health reasons effective from close of business hours on January 5, 2023. The company has approved the appointment of Girdhar Kumar Chitlangia, as CFO with effect from January 6, 2023.
Views: We believe the resignation of Mr Gupta will not have a material impact on the operational and financial performance of the company. Further, the company has already appointed Mr Chitlangia who has worked in leadership roles in large FMCG and retail companies in his career spanning more than 30 years. Prior to joining Arvind Fashions, he worked with More Retail, Coca-Cola Company and Super Max World.
Impact: Neutral